2. In the NT the Greek word translated “impute” is ” logizomai”. This word means “to count”, “to number”, “to take an inventory”

The idea is this… when we speak of “imputation” … we are describing to place on an account or to recognize what is on an account.

This word is normally used in the Bible to mean….

“Did I then begin to enquire of God for him? be it far from me: let not the king impute [any] thing unto his servant, [nor] to all the house of my father: for thy servant knew nothing of all this, less or more.” (1 Samuel 22:15)“Blessed [is] the man to whom the Lord will not impute sin.” (Romans 4:8) Here, imputation means “to recognize what is on an account”. Each one of us, as fallen sinful men place sin on our own account when we commit that sin. The Lord sees the already existing sin and holds us accountable. We are blessed if the Lord intervenes and does not hold us accountable….

How does the Lord do this? “For what saith the scripture? Abraham believed God, and it was counted unto him for righteousness. Now to him that worketh is the reward not reckoned of grace, but of debt. But to him that worketh not, but believeth on him that justifieth the ungodly, his faith is counted for righteousness. Even as David also describeth the blessedness of the man, unto whom God imputeth righteousness without works, [Saying], Blessed [are] they whose iniquities are forgiven, and whose sins are covered.” (Romans 4:3-7)Here, “imputeth” means “to place on an account” and then “to recognize” it. By God’s gracious intervention in our lives, through faith in Christ, God removes the sin that was upon the sinner’s account and replaces it with righteousness. By doing this, He then recognizes as righteous, the one who had sinned.

This work of God is based upon an exchange… the sin of the unrighteous man is placed upon Christ, and in exchange, the righteousness of Christ is then placed upon the sinner’s account….“For what saith the scripture? Abraham believed God, and it was counted unto him for righteousness. Now to him that worketh is the reward not reckoned of grace, but of debt. But to him that worketh not, but believeth on him that justifieth the ungodly, his faith is counted for righteousness. Even as David also describeth the blessedness of the man, unto whom God imputeth righteousness without works, [Saying], Blessed [are] they whose iniquities are forgiven, and whose sins are covered.” (Romans 4:3-7)